4 ms·

I’m Still Waiting for My Phone to Become My Wallet

9 points by thinkcomp 13y ago

applecore 13y ago
Unfortunately, for a customer today, paying with a phone has barely any benefits over paying with a credit card. Mobile payment systems need to offer more benefits to people to get them to use them.
- OafTobark 13y ago
  I would gladly get rid of my wallet entirely just for the sake of not having to carry it around but there are other barriers besides an added benefits argument. For me, not having to lug a wallet around is benefit enough IF digital versions of my cards were available in my phone and it was accepted everywhere but this is not the case. In addition, to fully replace my wallet, things like my debit, Driver License, and anything else I deem necessary needs to be digitized too (to truly replace my physical wallet). Arguably the Driver License might be the hardest piece.
- mdaniel 13y ago
  I started to write up my theories on the benefits, until I realized that we already have enough problems with the whole M,V versus Amex versus (other) acceptance problem, so tossing in NFC (and don't forget, iPhone doesn't offer NFC) just increases the fragmentation problem. I wouldn't want to be low on fuel in Podunkville, MiddleAmerica knowing that Grandpa's Gas has never heard of NFC. Don't get me wrong, I wholeheartedly embrace the NFC payment system and hope it succeeds, but I recognize that your question is quite telling.
vmarsy 13y ago
When some NFC technology as in the latest Visa cards [1] will be integrated in phones, then it would be widely use. Especially if the NFC payment works even when the phone battery is empty. [1] http://nfctimes.com/news/visa-europe-contactless-transactions-continue-rapid-growth-2013 http://nfctimes.com/news/visa-europe-contactless-transaction...
tsotha 13y ago
The last thing I need is hackers on the other side of the world to gain control of my wallet.
- applecore 13y ago
  You don't have a credit card?
  - tsotha 13y ago
    I do, but if someone starts using my credit card number the bank is on the hook for whatever they spend, provided I contact the bank as soon as I know it's happening. Yeah, it's still a hassle, but it's mostly just me telling the bank "No, I didn't authorize that charge and I'm not paying for it." This is not true when someone breaks into my account and spends my savings. Legally the bank isn't obligated to replace the money even if the problem was on their end. I understand they normally do (normally), but even if they do it can take years to get my money back.
FellowTraveler 13y ago
Apple disallows Bitcoin. Android has secret "Master Keys." Google and Facebook monitor my entire online life. And I'm supposed to use my phone as my wallet, too?

9 points by thinkcomp 13y ago

Unfortunately, for a customer today, paying with a phone has barely any benefits over paying with a credit card. Mobile payment systems need to offer more benefits to people to get them to use them.

OafTobark 13y ago
I would gladly get rid of my wallet entirely just for the sake of not having to carry it around but there are other barriers besides an added benefits argument. For me, not having to lug a wallet around is benefit enough IF digital versions of my cards were available in my phone and it was accepted everywhere but this is not the case. In addition, to fully replace my wallet, things like my debit, Driver License, and anything else I deem necessary needs to be digitized too (to truly replace my physical wallet). Arguably the Driver License might be the hardest piece.
mdaniel 13y ago
I started to write up my theories on the benefits, until I realized that we already have enough problems with the whole M,V versus Amex versus (other) acceptance problem, so tossing in NFC (and don't forget, iPhone doesn't offer NFC) just increases the fragmentation problem. I wouldn't want to be low on fuel in Podunkville, MiddleAmerica knowing that Grandpa's Gas has never heard of NFC. Don't get me wrong, I wholeheartedly embrace the NFC payment system and hope it succeeds, but I recognize that your question is quite telling.

vmarsy 13y ago

When some NFC technology as in the latest Visa cards [1] will be integrated in phones, then it would be widely use. Especially if the NFC payment works even when the phone battery is empty. [1] http://nfctimes.com/news/visa-europe-contactless-transactions-continue-rapid-growth-2013 http://nfctimes.com/news/visa-europe-contactless-transaction...

tsotha 13y ago

The last thing I need is hackers on the other side of the world to gain control of my wallet.

applecore 13y ago
You don't have a credit card?
- tsotha 13y ago
  I do, but if someone starts using my credit card number the bank is on the hook for whatever they spend, provided I contact the bank as soon as I know it's happening. Yeah, it's still a hassle, but it's mostly just me telling the bank "No, I didn't authorize that charge and I'm not paying for it." This is not true when someone breaks into my account and spends my savings. Legally the bank isn't obligated to replace the money even if the problem was on their end. I understand they normally do (normally), but even if they do it can take years to get my money back.

FellowTraveler 13y ago

Apple disallows Bitcoin. Android has secret "Master Keys." Google and Facebook monitor my entire online life. And I'm supposed to use my phone as my wallet, too?